ID :
152659
Tue, 12/07/2010 - 18:57
Auther :
Shortlink :
http://m.oananews.org//node/152659
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Thailand industry group forecasts Thai economy may grow 5% in 2011
BANGKOK,Dec7(TNA)-The Federation of Thai Industries (FTI) said on Tuesday that the Thai economy could further expand by 5 per cent next year unless there were severe impacts from risk factors.
FTI Chairman Payungsak Chartsuthiphol revealed that the figure was a projection of most local entrepreneurs--based on a positive assumption that there would be no adverse effects from vulnerable exchange rates, domestic political developments, changing world economic conditions, unstable world oil prices and rising wages.
The FTI chief said, however, that a new minimum wage hike in the country by some 10-11 baht a day-- as planned by the government--is acceptable by local private firms as it will account for only about 5 per cent of their rising costs of production and it will raise living conditions of local workers--although the new wage hike will evitably affect some industries, particularly those representing small and medium-sized enterprises (SMEs)which employ a number of workers.
The FTI chairman also acknowledged that the Ministry of Commerce is to take care of rising prices of products to be in line with the market mechanism.
Meanwhile, Dusit Nontanakorn, Chairman of the Thai Chamber of Commerce, said that local entrepreneurs should not be concerned over the planned wage hike as they should handle their rising costs through well management.(TNA)
FTI Chairman Payungsak Chartsuthiphol revealed that the figure was a projection of most local entrepreneurs--based on a positive assumption that there would be no adverse effects from vulnerable exchange rates, domestic political developments, changing world economic conditions, unstable world oil prices and rising wages.
The FTI chief said, however, that a new minimum wage hike in the country by some 10-11 baht a day-- as planned by the government--is acceptable by local private firms as it will account for only about 5 per cent of their rising costs of production and it will raise living conditions of local workers--although the new wage hike will evitably affect some industries, particularly those representing small and medium-sized enterprises (SMEs)which employ a number of workers.
The FTI chairman also acknowledged that the Ministry of Commerce is to take care of rising prices of products to be in line with the market mechanism.
Meanwhile, Dusit Nontanakorn, Chairman of the Thai Chamber of Commerce, said that local entrepreneurs should not be concerned over the planned wage hike as they should handle their rising costs through well management.(TNA)
